Picture used for illustrative purpose only.
Khalifa Industrial Zone Abu Dhabi, KIZAD, a subsidiary of Abu Dhabi Ports, has announced new packages with up to 36 per cent savings as relief for Freezone businesses, and support SMEs challenged by the global economic slowdown.
In line with Abu Dhabi Ports and the Government of Abu Dhabi’s efforts to support and safeguard businesses, the relief package offers both existing and prospective KIZAD Freezone customers savings of up to 25 per cent on new registrations and renewals, a waiver of the security deposit and two months free on renewals for all packages registered before 30th June 2020.
Khalid Al Marzooqi, Director Commercial, said, “Small and Medium Enterprises are the backbone of any economy, and are a vital component of Abu Dhabi’s business landscape. As engines for growth and employment, SMEs are one of the main pillars of KIZAD’s business strategy.
“As one of the leading enablers of industry, it is our responsibility to provide businesses with the opportunities to be competitive in their respective markets.”
SMEs are a crucial component of Abu Dhabi’s business landscape and one of the main pillars of the Ghadan 21 programme, which KIZAD adheres to. Approximately 98 per cent of all companies in Abu Dhabi are SMEs, which contribute 29 per cent of its GDP and 44 per cent of its non-oil economy.
KIZAD’s relief package is available in three tiers, the first providing 25 per cent savings on renewal or new registrations of three-years, 20 per cent savings for two-year registrations and renewals, and 15 per cent savings for one-year registrations.
Across all packages, new and existing customers will also benefit from having their security deposit waived.
The new initiative follows similar measures undertaken by Abu Dhabi Ports and implemented by KIZAD to aid its customers affected by the global economic slowdown.
The measures announced by Abu Dhabi Ports recently include the waiving of penalties associated with the late renewal of licenses in the second quarter of the year, as well as rent deferment and a freeze on late payment penalties.
Earlier, KIZAD successfully brought online a new set of services which will enable customers to avail of more of its services from anywhere in the world, in collaboration with Maqta Gateway, developer and operator of the first Port Community System in the UAE, and a wholly-owned subsidiary of Abu Dhabi Ports.
The rollout brings the total number of KIZAD digital services to 84, which are available to customers through the online portal.
In addition to the existing services, online payments; submission and processing of free zone applications; visa and ID card services; entry permits; establishment cards; and notarisation and attestation services can now be applied for and transacted through the system, without the need for customers to physically visit the KIZAD Customer Service Centre or present hard copies of documents. Moreover, the system is mobile responsive and equipped with advanced features including SMS notifications, real-time updates to enhance customer experience.
The KIZAD digital services, available through Maqta Gateway, enable customers to view all services offered by KIZAD for Free Zone and Domestic Economic Zone customers. Customers can track the status of their requested services and view and download documents required for the completion of the process.
Additionally, In a communication to customers recently, KIZAD had announced that as part of keeping customers safe during the coronavirus pandemic, all documents required for any services could be submitted digitally.
Kizad’s primary objective is to attract foreign investments with will generate job opportunities for skilled Emiratis and expatriates alike. KIZAD set to contribute around 15 per cent of Abu Dhabi’s non-oil GDP. It will be a powerful magnet for foreign direct investment, with global business locating large-scale primary and downstream manufacturing facilities in the Industrial Zone. It is anticipated that between 60 per cent and 80 per cent of the goods manufactured within Kizad will be exported, adding further value to the nation’s economy.
Kizad’s anchor investor, Emirates Aluminium (EMAL), which aims to be one of the world’s largest single-site aluminium smelters, began operations in 2009. It currently produces 800,000 tonnes of aluminium at KIZAD and with increasing demand for aluminium, the local market will reach 1.3 million tonnes with the inauguration of its phase two very soon. According to reports, KIZAD could lead to the creation of more than 150,000 jobs due to a deal signed with more than 50 local and international companies.
By late 2013, these logistics and heavy industry manufacturing investors included Bauer, KSB, Al Braik Investments, Palletco, Brasil Foods (BRF), City Pharmacy, and Emirates Calcium Carbonate Factory, which all signed up long-term leases at Kizad and began constructing facilities on the site.
The package — worth about 10 per cent of India's GDP — came as the country was set to mark its 50th day in the world's biggest lockdown as the number of virus cases topped 70,000 with 2,200 deaths.
Businesses and healthcare providers in the UAE looking for an easier way to source and secure personal protective equipment (PPE) can now do so through Dubai Chamber of Commerce and Industry’s newly launched Response Initiative (RRI).
Commenting on the contribution, Jawaan Awaidha Suhail Al Khaili, Chairman of ADIB, expressed his appreciation on behalf of everyone at ADIB for the efforts made by the Government of the UAE and the Executive Council of Abu Dhabi, and other national bodies and institutions, to address the current situation.
Saudi Aramco on Thursday announced its first global investment in liquefied natural gas, part of a broader bid by the energy giant to expand beyond oil.
Mariam Bint Mohammed Almheiri, UAE Minister of Climate Change and Environment, called upon UAE businesses to mainstream sustainability into all their operations
Dubai property market is witnessing a remarkable growth and developers are announcing new projects to meet the rising demand in the market.